MIRA
INFORM REPORT
|
Report Date : |
14.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
SUBONEYO CHEMICALS PHARMACEUTICALS PRIVATE LIMITED |
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Registered Office : |
A-86-89, MIDC, Ajantha Chauphuli, Jalgaon – 425003, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
12.05.1978 |
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Com. Reg. No.: |
11-20340 |
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CIN No.: [Company
Identification No.] |
U24110MH1978PTC020340 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Exporter and Importer of Chemicals Used for
Pharmaceutical Products. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 40000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established and reputed company meeting its normal
commitments timeously. Trade relations are fair. Business is active. The company can be considered good for normal business dealings. |
INFORMATION PARTED
BY (PARTIAL DETAILS)
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Name : |
Mr. Saheyog |
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Designation : |
Manager in Accounts |
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Date : |
12.06.2008 |
LOCATIONS
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Registered Office/ Factory : |
A-86-89, MIDC, Ajantha Chauphuli, Jalgaon – 425003, Maharashtra, India
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Tel. No.: |
91-257-2210748/ 2211754/ 56 |
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Fax No.: |
91-257-2212264 |
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E-Mail : |
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Website : |
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Area : |
1 ˝ Acres |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Sudhakar Chaudari |
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Designation : |
Director |
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Address : |
A-86-89, MIDC, Ajantha Chauphuli, Jalgaon – 425003, Maharashtra, India
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Date of Birth/Age : |
01.06.1937 |
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Qualification : |
MSC, BSS |
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Date of Appointment : |
12.05.1978 |
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Name : |
Mrs. Sunanda Chaudari |
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Designation : |
Director |
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Address : |
A-86-89, MIDC, Ajantha Chauphuli, Jalgaon – 425003, Maharashtra, India
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Date of Birth/Age : |
31.12.1948 |
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Qualification : |
BSC |
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Date of Appointment : |
12.05.1978 |
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Name : |
Mr. Suyog Kumar Chaudari |
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Designation : |
Director |
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Address : |
A-86-89, MIDC, Ajantha Chauphuli, Jalgaon – 425003, Maharashtra, India
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Date of Birth/Age : |
06.03.1977 |
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Qualification : |
MBA |
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Date of Appointment : |
15.06.2001 |
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Name : |
Mr. Sunil Kumar Chaudari |
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Designation : |
Director |
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Address : |
A-86-89, MIDC, Ajantha Chauphuli, Jalgaon – 425003, Maharashtra, India
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Date of Birth/Age : |
27.07.1972 |
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Qualification : |
Chemicals Engineer |
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Date of Appointment : |
01.10.2003 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)
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Names of Shareholders |
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No. of Shares |
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Mr. Sudhakar Chaudari |
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2545 |
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Mrs. Sunanda Chaudari |
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2345 |
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Total |
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4890 |
(As on 31.03.2007)
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Chemicals Used for
Pharmaceutical Products. |
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Products : |
· Chemicals
Products · Pharmaceutical
Products · Drugs |
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Exports : |
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Countries : |
· USA · Germany |
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Imports : |
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Countries : |
· Asian Countries · European
Countries |
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Terms : |
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Selling : |
L/C and Cash |
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Purchasing : |
L/C |
GENERAL
INFORMATION
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Customers : |
· Wholesalers · OEM’s · Manufactirers |
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No. of Employees : |
200 |
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Bankers : |
· State Bank of
India · Jalgaon Janata
Sahakari Bank Limited 117/119, Seva, Navi Peth, Jalgaon – 425001, Maharashtra, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
V D Gosavi and Company Chartered Accountant |
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Address : |
Ketki Building Near Alka Talkies, Sadashiv Peth, Pune – 411030,
Maharashtra, India |
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Associates/Subsidiaries : |
· Samruddhi
Chemicals Private Limited · Sampatti
Industries |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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5000 |
Equity Shares |
Rs.100/- each |
Rs.0.500 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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4890 |
Equity Shares |
Rs.100/- each |
Rs.0.489
Million |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.489 |
0.489 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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7.592 |
5.415 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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8.081 |
5.904 |
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LOAN FUNDS |
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1] Secured Loans |
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5.030 |
6.081 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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5.030 |
6.081 |
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DEFERRED TAX LIABILITIES |
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0.704 |
0.669 |
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TOTAL |
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13.815 |
12.654 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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11.078 |
10.488 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.135 |
0.135 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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1.231 |
0.763 |
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Sundry Debtors |
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5.747 |
6.877 |
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Cash & Bank Balances |
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1.770 |
0.102 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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2.333 |
0.869 |
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Total
Current Assets |
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11.081 |
8.611 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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4.585 |
4.431 |
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Provisions |
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3.894 |
2.149 |
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Total
Current Liabilities |
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8.479 |
6.580 |
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Net Current Assets |
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2.602 |
2.031 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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13.815 |
12.654 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
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Sales Turnover |
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37.260 |
26.380 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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37.260 |
26.380 |
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Profit/(Loss) Before Tax |
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3.285 |
2.887 |
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Provision for Taxation |
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0.000 |
0.000 |
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Profit/(Loss) After Tax |
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3.285 |
2.887 |
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Export Value |
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15.689 |
11.048 |
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Expenditures : |
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Interests |
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0.000 |
0.000 |
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Depreciation & Amortization |
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1.727 |
1.138 |
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Other Expenditure |
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32.248 |
22.355 |
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Total Expenditure |
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33.975 |
23.493 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
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8.82 |
10.94 |
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Net Profit Margin (PBT/Sales) |
(%) |
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8.82 |
10.94 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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14.82 |
15.11 |
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Return on Investment (ROI) (PBT/Networth) |
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0.41 |
0.49 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.67 |
2.14 |
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Current Ratio (Current Asset/Current Liability) |
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1.31 |
1.31 |
LOCAL AGENCY
FURTHER INFORMATION
Website details
Profile:
Subject is established in the year 1978 in the state of Maharashtra.
It is a leading name in the bionutritional industry engaged in the
bionutritional products. The Company also manufacturer Animal Nutrition product
as well as Human Nutrition products. Quality is the essence of products
manufactured at Suboneyo and quality control is maintained at each step in
production with well qualified team of chemists and production staff. Their
reputation for quality has enabled to get running order from reputed Companies
of India and abroad
Form 8:
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Name of the company |
SUBONEYO CHEMICALS PHARMACEUTICALS PRIVATE LIMITED |
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Presented By |
Jalgaon Janata Sahakari Bank Limited, Jalgaon |
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1) Date and description of instrument creating the change |
Hypothecation
deed for W. C. T. L. Dated 06.01.2006 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.1.500 Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
All Stock of raw
materials, work in process, finished goods situated at factory premises
situated at A/86/89, MIDC, Jalgaon and / or in transit any were else and book
debts both present and future. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interests shall
be charged @ 15.00% p.a. on monthly rests. The above rate may be revised from
time to time as per Board decision/ RBI guideline. The borrower shall be
agreeing to the same without raising any objection to the revision on the
rate of interests. |
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5) Name and Address and description of the person entitled to the charge. |
Jalgaon Janata Sahakari Bank Limited Seva, 117/119, Navi Peth, Jalgaon – 425001, India |
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6) Date and brief description of instrument modifying the charge |
NA |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
NA |
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Corporate identity
number (CIN) Foreign company registration number |
U24110MH1978PTC020340 |
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Name of the
Company |
SUBONEYO CHEMICALS PHARMACEUTICALS PRIVATE LIMITED |
|
Address |
A-86-89, MIDC, Ajantha Chauphuli, Jalgaon – 425003, Maharashtra, India
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This form is for |
Modification of
Charge |
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Type of Charge |
Immovable
Property Book Debts Machineries,
Stock-in-process |
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Particulars of
the charge holder |
Jalgaon Janata Sahakari Bank Limited Seva, 117/119, Navi Peth, Jalgaon – 425001, India |
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Nature or
description of the instrument(s) creating or modifying the charge |
Letter of
Hypothecation Mortgage Deeds |
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Date of the
instrument creating or modifying the charge |
10.04.2007 |
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Amount secured by
the charge |
Rs.6.900 Millions |
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Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of
Interests: 15% Terms of
Repayment: Renewal for every
year Margin: 30% Extent and
operation of the charge: Hypothecation of
Machinery, Building, Book Debts, Stock |
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Short particulars
of the property charged (including location of the property) |
Plot No.A86-89,
MIDC Jalgaon – 2444 Sq. M. Land at Gat
No.181, Area, 2-H-79R, Gadegaon, Taluka – Jamner, District. Jalgaon, India |
|
Particular of the
present modification |
Rs.1.000 Million
Hypothecation of Machinery, Building, Book Debts, Stock. |
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record exists
to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.87 |
|
UK Pound |
1 |
Rs.83.41 |
|
Euro |
1 |
Rs.66.11 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
53 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|